Excellent cobalt anomalism seen at Classic Minerals' Fraser Range Project

Classic Minerals (ASX:CLZ) today updated the market on its FraserRange nickel-cobalt project in WA.

While CLZ is primarily concentrating its attention on goldexploration at its flagship Forrestania Gold Project, it has also completed areview of its Fraser Range dataset. The review identified 'excellent cobaltanomalism' at the project's Rubys Reward prospect, including up to 1399ppmcobalt.

The company noted that interest in cobalt exploration in theFraser Range is heating up ahead of the proposed IPO of famed-investor MarkCreasy's Galileo Mining Ltd.

Classic is planning additional sampling as well as shallowaircore drilling in the near future to test the cobalt mineralisation at RubysReward.

Overall this is an earlystage play and as such any investment decision should be made with caution andprofessional financial advice should be sought.

Dean Goodwin said: "Classic's Fraser Range project is anexciting asset with proven Ni-Cu mineralisation discovered by the Company atMammoth and Alpha and apparent prospectivity for Cobalt and other minerals.

"After reviewing the company's data and historical reports,it became apparent that the Rubys Reward prospect has cobalt potential worthfollowing up. After plotting rock chip and soil sampling data, we could see aclear trend of anomalous cobalt mineralisation trending S/SW within ourTenement.

"We are planning a field trip in the near term to collectfurther samples and to carry out some geological mapping of the prospect, withan air core drill program planned as soon as necessary approvals are receivedfrom the Govt.

"Our focus is on FGP but Fraser Range remains an importantasset in the stable and we look forward to releasing the results of thesampling and Air Core drill results in due course."